Taking loan to start a business.

[Imran Noori]

As we see nowadays many people take loan in order to start a business, one question always comes to my mind that those who take loan in order to invest it in something risky like crypto market and forex market, or start a risky business with it, what will happen if they lose their money in investments or what if their businesses fail? What will they do? Is there any solution for it?

 

[Realekom]

Taking lone to start up business is cool, it turns out to be either good or bad, there are more pressure on the person as he/she will split the business profit in order to pay back, and it usually affects the welfare of the business because the business won't get the right fundings and mobilization.
The business does not directly belongs to the person, alot of businesses collapse today as a result of borrowed capital, is usually benefiting when any business is being started with ones savings or personal cash.

 

[Etini]

I don't advise new businesses to start with a loan. As much as you can, try to raise funds that you won't have to pay back to start your business.

Loan repayment comes with so much financial pressure. I have been there before and I am telling you that one week to due date, you are already having pressure on how to get the due repayment. It is only after you have gotten and repaid the loan that your mind has peace and the cycle continues the following week or month as the case may be. The pressure is not worth it.